Culled—Proshare

December 26, 2018/By NASDAQ

Nasdaq announced on Friday that in 2018 it welcomed 185 initial public offerings (IPOs) and 20* exchange transfers. Nasdaq has extended its IPO leadership to 20 consecutive quarters in the U.S. with a 72 percent win rate, with new listings raising a total of $27.7 billion. 

As the home to entrepreneurs and visionaries, seven of the largest 10 technology IPOs by proceeds raised chose to list on Nasdaq, including iQIYI (raised $2.25 billion), Pinduduo (raised $1.62 billion), StoneCo Ltd (raised $1.2 billion), Dropbox (raised $756 million) and DocuSign (raised $629 million). The technology sector, with 33 IPOs in 2018, led the U.S. market in 2018, raising $10.6 billion on Nasdaq.

Following a record-breaking year in 2017 for exchange transfers, Nasdaq welcomed a total of 20 switches in 2018 from the New York Stock Exchange (NYSE) with a combined market value of approximately $256.2 billion. In addition, on December 3, 2018, Nasdaq launched its Corporate Bond exchange for listing and trading of corporate bonds. The offering allows public companies to list their debt securities on a market that uses Nasdaq trading technology and surveillance. PepsiCo and Walgreens Boots Alliance both announced transferring the listing of their debt securities. 

“This year has been an exceptional year for the U.S. IPO market and our listings business. Not only did we welcome numerous high-profile IPOs, we continue to attract exchange transfers across all sectors,” said Nelson Griggs, President, Nasdaq Stock Exchange. “These results speak to the value of our holistic approach – a long term partnership that supports companies throughout their growth journey, from the first day of trading through our technology and advisory services to engage investors and the investment community. We look forward to building on our momentum in 2019.”

2018 NASDAQ U.S. LISTINGS HIGHLIGHTS

1. U.S. listings market leadership: Nasdaq welcomed 185 IPOs, raising $27.7 billion. In 2018, IPOs on Nasdaq raised almost twice the amount in proceeds compared to 2017.
2. Leading U.S. exchange for technology, healthcare, financials and VC-backed IPOs: Nasdaq maintained its strong track record in technology and VC-backed listings, with win rates of 63 percent and 82 percent, respectively. Win rates for healthcare and financials were 94 percent and 74 percent, respectively.
3. Largest VC-backed biotech IPO: Driven by the biotechnology and pharmaceutical sectors, healthcare listings momentum continued to build. Moderna raised over $600 in its Nasdaq IPO, making it the largest venture-backed biotech IPO in history.
4. Continued momentum in listing transfers: Nasdaq welcomed 20 switches from NYSE in 2018, representing a combined $256.2 billion in market value. Notable transfers include Regency Center, WW, Newell Brands, United Continental Holdings, Alliant Energy and Sanofi. The total market value of all companies joining Nasdaq from NYSE since 2005 has exceeded $1.5 trillion.
5. A video recap of 2018 listings highlights is available here.  

* The number includes companies that announced their intentions to switch.

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